Posted by: Debby Durkee | April 24, 2010

U.S.: Argentina, or get rid of Democrats?

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U.S.: Argentina, or get rid of Democrats?

Seems to me there’s no contest between the two. The country is angry, and it shows in the latest polls. As conservative pundits warn of the chance of the United States becoming Greece and now Argentina, Americans are shouting from the rooftops that they don’t want to go there. The Democrats have ignored the American people, have basically flipped us all the bird, now America is flipping them right back. First, we’ll look at the latest warning, then we’ll see what Daniel Henninger of the Wall Street Journal has to say about where the Democrats find themselves after shoving the American people around.

Is U.S. becoming Argentina?

This story spells out why Americans are so angry and what they fear the most: the loss of our country and what that portends for our children’s future. Pay attention, this article mentions the unions in Argentina, so note our blog of yesterday because the unions, under Obama, are attempting to gain more power — not a good situation. This is from Richard W. Rahn at the Washington Times.

A century ago, if you had told typical citizens of Argentina (which at that time was enjoying the fourth-highest per capita income in the world) that it would decline to become just the 76th richest nation on a per capita basis in 2010, they probably would not have found it believable…

… Argentina…has the second-worst credit ranking in the entire world – only Venezuela has a lower ranking. Argentina, despite its natural resources and human capital, has managed to throw it all away. Argentina…became poor because it has had a series of both democratically elected leaders and non-elected dictators who never missed an opportunity to make the wrong economic decisions…

In the 1930s, the Argentine government increased its interventions in the private economy. Juan Peron took over in 1946 and ended up nationalizing the railroads, the merchant marine, public utilities, public transport and other parts of the private economy. …, Argentina has engaged in a series of erratic monetary policies, often resulting in periods of very high inflation and economic stagnation. Because of their political power, the unions have been coddled, resulting in unsustainable wage-and-benefit programs. Excessive government spending has caused recurrent fiscal meltdowns… Snip –

… Countries can become wealthy in a few decades, as have South Korea, Taiwan, Hong Kong, Singapore and Finland, by following the correct economic policies. They also can become relatively poor, as have Argentina, Cuba and Venezuela, by doing the wrong things.  Snip —

Rahn goes on to showcase the myriad of ways that the Obama administration is leading the United States in the direction of the destructive policies of Argentina. Such as: protectionist trade policies, the VAT tax, state-owned banks (and basically state-owned Fannie and Freddie mortgage loan companies), plus some others:

Argentine courts are slow and corrupt. Property rights are not secure…The Obama administration unilaterally took away bondholders’ rights in the GM and Chrysler cases and, in essence, took their assets and turned them over to the unions that had supported Mr. Obama.

Argentina has extensive labor regulations to favor unions, which greatly increase the cost of hiring. The Obama administration has supported costly labor regulations that the unions favor, which eventually will drive up the cost of hiring workers and result in higher unemployment.

Over the next 30 years, economists associated with the Bank for International Settlements in Basel, Switzerland, estimate (as have many U.S. economists) that the U.S. public debt will rise to between 200 percent and 500 percent of GDP. (It is now about 60 percent.) Debt levels of 200 percent to 500 percent cannot be supported; hence, the debt holders will face erosion of their capital through either inflation or nonpayment.

The U.S. is not yet Argentina, but, if many of the policies of the Obama administration are not reversed, America will only get poorer and, in as little as 30 years, become a middle-income country, while dozens of other countries will enjoy a higher standard of living.

This is a truly frightening cautionary tale. If Americans don’t awaken to what is really happening (and why isn’t our mainstream media telling us this?) they will awaken to a harsh reality in the future. We can and we must prevent this from happening right now. http://www.washingtontimes.com/news/2010/apr/21/could-the-us-become-argentina/

Dems ignore public anger.

It does seem that little by little Americans are awakening. The polls show it. The Tea Parties show it. Americans tried to tell the Democrats, but they didn’t listen. During the health care debate, Democrats ignored the obvious public anger and just pressed on with their agenda. Now that their numbers are way in the tank during an election year, the Dems are noticing the anger (Bill Clinton whining about what he saw in the mid 1990’s). Well, they should have paid attention before they pushed the country off a cliff. Little did they know that along with the country, they also pushed themselves off. This is from Daniel Henninger of the Wall Street Journal.

There was always something eerie about the way the Democrats said their health-care legislation was what the American people had waited “70 years” for. Invoking the ghosts of 1939 was kind of creepy. Then when the moment in history finally arrived, history got no votes from the other party. Whatever the politics, there was something ominous about all this. One felt something else was going on.

A Pew Research Center report just out, the one that says trust in government is at an “historic low” of only 22%, looks like the something else.

Dig past the headline of the Pew study and one discovers why Bill Clinton is insinuating that “demonizing” government could cause another Oklahoma City bombing. If these numbers are at all close to reality, something one can hardly doubt just now, the American people have issued a no-confidence vote in government, at both the national and state level. To the extent one believes in the “consent of the governed,” consent is being eroded.   Snip –

After one year of the charismatic, ever-present Barack Obama, after passage of the party’s totemic health-care bill, after spending zillions on Keynesian pump-priming, the American people—well beyond the tea partiers—have the lowest opinion ever of national government.

A year ago, 54% said government should exert more control over the economy; a year later it’s 40%.

Some 58% say Uncle Sam is interfering too much in state and local affairs; 53% want “very major reform” of the federal government…  Snip –

Something unique happened in the first Obama year, about the last thing the Democratic Party needed: The veil was ripped from the true cost of government. This is the ghastly nightmare Democrats have always needed to keep locked in a crypt.

Before the Internet, that was easy. Washington, California, New York, New Jersey—who knew what the pols were spending? The Democrats (and their Republican pilot fish) could get away with this. Not now. Email lists, 24/7 newspapers, blogs, TV and talk radio—the spending beast is running naked.

This year the FY 2011 budget hit $3.8 trillion, reaching a post-World War II high of 25% of GDP. In March, they passed the trillion-dollar health-care bill. Total headline spending commitments in one year: about $9 trillion. That’s a lot of “trust” to ask for during a recession with 9% unemployment. And now a sense is building of some broad middle-class tax grab. After soaking the rich, comes the deluge.

Demonization? No need. They did it to themselves.  Snip –

(Obama) insists on more government. People want less, and don’t trust what they’ve got. They want reform. Here’s the Pew blowout data:

In 1994 when the Democrats lost over 50 House seats at mid-term, the party’s favorable rating was 62%, and for the Congress they controlled it was 53%. They still got killed. Now the party’s favorable is 38% and Congress’s approval is 25%. The Republicans’ numbers are low, too, but they’re not in charge.

The Democratic Party is on the edge of an electoral cliff with a long fall to the bottom. No wonder they’re seeing a demon under every bed.

Let’s give the Democratic Party a huge shove in November. They deserve it, and we don’t deserve what they have done, are continuing to do, and will continue to do if we don’t get these irresponsible, power-hungry, country-ruining liars and thieves out of office. Read it all here: http://online.wsj.com/article/SB10001424052748704133804575198290459062592.html

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